SEB published its Q3 results. Total income was better than expectations (at SEK10.79bn or 2.5% above consensus) but only on the back of strong trading income while core (and stable) revenues, be it net interest income or net fees, were roughly in line with expectations. With total expenses in line but a much better cost of risk, profit before tax was 10% above expectations. CET1 at 18.6% is just 10bp lower versus Q2 16.
20 Oct 2016
No possible extrapolation but net interest income reassuring...
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No possible extrapolation but net interest income reassuring...
Skandinaviska Enskilda Banken AB Class A (SEBA:FRA) | 0 0 0.5% | Mkt Cap: 212,477m
- Published:
20 Oct 2016 -
Author:
Farhad Moshiri -
Pages:
3
SEB published its Q3 results. Total income was better than expectations (at SEK10.79bn or 2.5% above consensus) but only on the back of strong trading income while core (and stable) revenues, be it net interest income or net fees, were roughly in line with expectations. With total expenses in line but a much better cost of risk, profit before tax was 10% above expectations. CET1 at 18.6% is just 10bp lower versus Q2 16.